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AOL Purchases Weblogs, Inc

America Online (AOL) has purchased Weblogs, Inc., the blog publishing empire created by Jason Calacanis. The official announcement is expected tomorrow. I think the move will help blogs achieve more respect in the world of journalism and news.

Right now, the most popular blog on Weblogs Inc., is Engadget, which covers the world of technology and gadgets. Weblogs Inc., currently employs about 130 bloggers producing roughly 100 blogs covering everything from video games to open source software to television.

AOL plans to leave the company as a standalone entity, rather than roll it underneath the AOL banner. Yahoo, MSN and NewsCorp also expressed interest in buying it.

So what’s next? Gawker Media is the next likely purchase being eyed by the content hungry big shooters. I say we start a blog empire. Who’s with me?